UK workless households falls to lowest level since records began August 28, 2013 The percentage of all UK households with at least one person aged 16 to 64 with no members in work was 17.1 per cent in the period April to June 2013 – down from 17.9 per cent in the same period the year before and the lowest since records began in 1996, according to figures [...]
Ryanair to appeal against Competition Commission ruling August 28, 2013 The chief executive of budget airliner Ryanair has said it will appeal against today's report from the UK Competition Commission’s (UKCC) saying that its minority shareholding in Aer Lingus has led to a "substantial lessening of competition" between the airlines on routes between the UK and Ireland. The UKCC said this morning that Ryanair will [...]
Bank of Japan’s deputy governor reiterates target of two per cent inflation within two years August 28, 2013 The Bank of Japan's deputy governor, Kikuo Iwata, has repeated a "goal to achieve two per cent inflation as soon as possible with a two-year timeline as a reference point". Iwata said the bank is "focused on how we are achieve two per cent inflation. What we want to see is higher wages and an [...]
G4S outlines plans to strengthen balance sheet after disappointing first half losses August 28, 2013 Outsourcing company G4S has announced plans to sell businesses and issue new shares to strengthen its balance sheet. The company, whose reputation has suffered from failures at last year’s Olympic and Paralympic games and more recently from the alleged overcharging of the taxpayer for the provision of electronic tagging services, plans to place 140.9m new [...]
Competition watchdog warns of lack of competition in UK private healthcare market August 28, 2013 The UK Competition Commission has warned of a lack of competition among local private healthcare providers, leading to higher insurance premiums and patient charges (full report). The Commission said it had identified 101 hospitals facing little local competition, some in clusters under the common ownership of major hospital groups like BMI, Spire and HCA. Competitors [...]
Meggitt to acquire Piezotech for £26.5m August 28, 2013 FTSE 100-listed aerospace, defence and energy firm Meggitt has signed an agreement to acquire Piezotech for $41.2m (£26.5m) (release). Piezo specialises in the production and development of piezoelectric and electroactive fluorinated-based polymers, which will help Meggitt improve its gas turbine sensors and its position in emerging energy and medical markets – in particular, downhole drilling [...]
Competition Commission orders Ryanair to sell off Aer Lingus stake August 28, 2013 The Competition Commission has confirmed that budget airline Ryanair will need to reduce its 29.8 per cent stake in Aer Lingus to just five per cent. In its final report published today, the CC confirmed its provisional findings that Ryanair’s minority shareholding had led or may be expected to lead to a substantial lessening of [...]
Before the open – 28/08 August 28, 2013 Asian shares hit a seven-week low last night as concerns over a military strike against Syrian president Bashar al-Assad’s government escalated. US markets closed down on similar concerns, with the S&P suffering its worst daily decline since 20 June. This came in spite of better-than-expected confidence indicators in the US and Germany. The Washington Post [...]
SocGen: Brent crude could “spike briefly” to $150 on Syria concerns August 28, 2013 The price of brent crude oil could jump as high as $150 (£96) per barrel if the escalating conflict in Syria results in disruptions to supply, a report from Societe Generale has said. The price of brent crude rose as much as 2.5 per cent to $117.23 per barrel on the ICE Futures Europe exchange [...]
Walkie Talkie building scorches Londoners | City A.M. August 28, 2013 LONDONERS who pass by the Walkie Talkie skyscraper are in for a surprise – because the recently completed building at 20 Fenchurch Street is reflecting a beam of ultra bright light onto the street below. The hotspot on Eastcheap near Monument station is forcing pedestrians to shield their eyes, with one passer-by describing it as [...]